Transcript 2014-2015 Tentative Budget

2014-2015 Budget
August 15, 2014 Opening Day
Diana Keelen
2013-2014 Unrestricted Fund Estimated Actuals
Beginning Fund Balance
 Revenues
 Expenditures
 Ending Fund Balance
 Reserve %
 Surplus (Deficit)

$ 9,299,925
$ 59,011,886
$ 58,915,323
$ 9,396,488
15.9%
$
96,563
2014-2015 California State Budget Highlights
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Governor is assuming conservative estimates. LAO is
higher. Positive trigger if additional funds occur towards
deferrals.
$10 billion in debt buy down
CalSTRS increases. State contribution goes from 3% to
6.3% Employer rate jumps 8.25% to 19.1% in 2021.
Employee rate goes from 8.25% to 10.25% in 16-17.
November 2014 Rainy Day ballot measure to stabilize
apportionment. Capital gains in excess of 8% with a max
of 10% to go to a Prop 98 reserve to smooth out boom and
bust years.
2014-2015 Community College Budget Highlights
$140.4 mil in access/restoration (2.75%)
 $47.3 in on-going funds (0.85%), COLA
 Categorical program increases
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$100 mil in SSSP
 $70 mil in Student Equity (formula still in work)
 $30 mil for DSPS
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Deferral buy down of $498 mil, still $95 mil
left.
Revenue Highlights
No growth
 374 FTES in 2011-2012 Restoration
 0.85% COLA
 0.5% Deficit factor
 No prior year correction
 $46 per credit unit (no increase)
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Expenditure/Investment
Highlights
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Hiring additional instructors and counselors
Hiring classified and CMS positions
Department Chairs (to be negotiated)
Campus Wi-Fi Implementation-Completed Investment in an Integrated Energy
Management System
Resource allocation funds for new budget requests
Negotiating AT& T Cell Tower
Renovation/Update of restrooms, choral, music, and keyboard rooms, T800, student
services, elevators & curbs
Investment in professional development
Restoring Academic Senate budget
Integrated Banner enterprise system implementation
RAVE Mobile Safety implementation for disaster preparedness
Ad Astra scheduling system upgrades
AVC 2014-2015 Draft Adopted Budget
Beginning Fund Balance
 Revenues
 Expenditures
 Ending Fund Balance
 Reserve %
 Surplus (Deficit)

$ 9,396,488
$ 61,324,828
$ 61,057,328
$ 9,663,989
15.8%
$
267,500
3 Year Projection
2015-2016
Projected
Budget
Beginning Balance
2016-2017
Projected
Budget
2017-2018
Projected
Budget
9,663,989
9,126,362
8,525,642
Revenue
61,164,614
61,164,614
61,164,614
Expenditures
61,702,241
61,765,333
63,070,169
9,126,362
8,525,642
6,620,087
14.8%
13.8%
10.5%
-537,627
-600,720
-1,905,556
Ending Fund Balance
Reserve %
Surplus/(Deficit)
Summary
California is slowly being restored from the
recession
 “Wall of Debt” being bought down
 Commitment to invest in Education & Public
programs as a priority
 Stability in funding to Education is being
addressed
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